HP Reports 3Q Loss, But Upbeat On 4Q - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

HP Reports 3Q Loss, But Upbeat On 4Q

Hewlett-Packard reported a net loss of $2 billion for its first quarter of combined operations with Compaq, as the company absorbed $3 billion in layoff and merger expenses. Company executives promised better performance for the current quarter as the new HP wrings costs from its money-losing PC and server businesses.

For the fiscal third quarter ended July 31, HP reported a net loss of 67 cents per share, compared with a profit of $123 million, or 6 cents per share, in the same quarter a year ago. Revenue was $16.5 billion, compared with $10.3 billion last year. HP and Compaq's combined revenue during the comparable quarter last year would have been $18.6 billion.

HP derived about 29% of its third-quarter revenue from printing and imaging; 29% from PCs and handheld computers; 23% from servers, storage, and software; and 18% from IT services. Only printers and services turned a profit. HP lost $198 million on its PC business and $422 million in its enterprise systems group.

HP's Merger Dues
3Q '02 3Q '01
Revenue $16.5B $10.3B
Net income (loss) ($2B) $123M
DATA: Hewlett-Packard

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2021 State of ITOps and SecOps Report
2021 State of ITOps and SecOps Report
This new report from InformationWeek explores what we've learned over the past year, critical trends around ITOps and SecOps, and where leaders are focusing their time and efforts to support a growing digital economy. Download it today!
InformationWeek Is Getting an Upgrade!

Find out more about our plans to improve the look, functionality, and performance of the InformationWeek site in the coming months.

News
Becoming a Self-Taught Cybersecurity Pro
Jessica Davis, Senior Editor, Enterprise Apps,  6/9/2021
News
Ancestry's DevOps Strategy to Control Its CI/CD Pipeline
Joao-Pierre S. Ruth, Senior Writer,  6/4/2021
Slideshows
IT Leadership: 10 Ways to Unleash Enterprise Innovation
Lisa Morgan, Freelance Writer,  6/8/2021
Register for InformationWeek Newsletters
Video
Current Issue
Planning Your Digital Transformation Roadmap
Download this report to learn about the latest technologies and best practices or ensuring a successful transition from outdated business transformation tactics.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll